A man invests Rs. 5,600 at 14% per annum compound interest for 2 years

1.	A man invests Rs. 5,600 at 14% per annum compound interest for 2 years. Calculate : (i) the interest for the first year. (ii) the amount at the end of the first year. (iii) the interest for the second year, correct to the nearest rupee.
Answer» A man invests Rs. 5,600 at 14% per annum compound interest for 2 years. Calculate : (i) the interest for the first year. (ii) the amount at the end of the first year. (iii) the interest for the second year, correct to the nearest rupee.

A man invests Rs. 5,600 at 14% per annum compound interest for 2 years. Calculate : (i) the interest for the first year. (ii) the amount at the end of the first year. (iii) the interest for the second year, correct to the nearest rupee.

Answer»

A man invests Rs. 5,600 at 14% per annum compound interest for 2 years. Calculate :

(i) the interest for the first year.

(ii) the amount at the end of the first year.

(iii) the interest for the second year, correct to the nearest rupee.